Aquafeed Market Trends, Growth, Share, Size and Forecast Research Report 2027
The global aquafeed market size is expected to reach USD 80.05 billion by 2027, exhibiting a CAGR of 5.3%
during the forecast period. The rising seafood trades in various regions of the world is expected to bode well
for the global market, states Fortune Business Insights, in a report, titled “Aquafeed Market Size, Share
& COVID-19 Impact Analysis, By Type (Fish (Carps, Tilapias, Catfish, Salmons, and Others),
Crustaceans, Mollusks, and Others), Ingredient (Soybean, Fishmeal, Fish Oil, Corn, Additives, and
Others), Form (Dry and Wet), and Regional Forecast, 2020-2027.” The market size stood at USD
56.92 billion in 2019.
The coronavirus emergency has resulted in financial jeopardy for trades and businesses around the world.
The authorities of several countries have initiated lockdown to avert the increase of this infectious disease.
Such strategies have caused disturbances in the production and supply chain. But, with time and resolution,
we will be able to combat this stern time and get back to normality. Our well-revised reports will help
companies to receive in-depth information about the present scenario of every market so that you can adopt
the necessary strategies accordingly.
Significant R&D Investments to Favor Business
The increasing research and development of innovative products by industry players is expected to enable
speedy expansion of the market. For instance, in August 2020, Milkfish Aquafeeds Research, Development,
and Extension Project (RDEP) were introduced in Guiuan. The R&D project aims at providing solutions for
cost-effective aquaculture feeds. The new substitute comprises of locally-procured plant-based proteins for
aquaculture feeds. The ongoing mergers and acquisitions among companies to enhance product portfolio will
foster the healthy growth of the market. For instance, in November 2019, the Washington-based feed and
Ingredient company Wilbur-Ellis announced the acquisitio